Signs Agreements with Maersk, U.S. Customs and Border Protection, and Merck to power trusted supply networks
NEW YORK, October 06, 2022--(BUSINESS WIRE)--Altana, a startup pioneering a shared source of truth on the global supply chain, today announced a $100M Series B investment led by Activate Capital. OMERS Ventures participated alongside strategic investors Prologis Ventures, Reefknot Investments, and Four More Capital. Existing investors GV (formerly Google Ventures), Amadeus Capital Partners, Floating Point, and Ridgeline Partners all joined the round.
The Series B comes on the heels of dramatic sales and data network growth for Altana. The investment will fund aggressive platform and product development to empower the world’s governments, logistics providers, and businesses - including Maersk, U.S. Customs and Border Protection, BMW, Merck, and Boston Scientific - to build trusted supply chain networks on a shared source of truth.
Disruptions to global supply chains resulting from the Covid-19 pandemic, surging geopolitical tensions, inflation, climate shocks and concerns over forced labor are roiling economies and creating upheaval in financial markets. These same macro factors are driving adoption of Altana’s Trusted Network platform across the public and private sector.
Altana connects and learns from the world’s public and non-public data to provide a dynamic, intelligent model of the supply chain while ensuring the sovereignty, security, and privacy of the underlying data. Altana is used to accelerate and automate compliant trade, to illuminate and collaborate across multi-tier supplier relationships, and to build safe, sustainable, and resilient supply chain networks.
"The nexus of climate change, inflation, wealth inequality, and national security is the supply chain," said Evan Smith, CEO and co-founder of Altana. "We’re empowering the public and private sectors to refactor global supply chains around trusted networks. This investment reflects the importance of our mission in this era of dislocation. We are proud and grateful for these new partnerships as we build toward our vision of Globalization 2.0 - a new era of globalization defined by Trusted Networks, which span and connect governments, businesses, and civil society to shape a more resilient, secure, inclusive, and sustainable world."
"Some of the most important companies are forged during economic adversity," said Raj Atluru, Managing Partner of Activate Capital. "Altana has a singular mix of ingredients: unique technology, network effects, and an all-star team pursuing a world-changing vision. Altana has the potential to provide the infrastructure of a better globalization. We are thrilled to partner with the company in the journey ahead."
View source version on businesswire.com: https://www.businesswire.com/news/home/20221006005401/en/
Brian Cronkhite, email@example.com, 415.747.5510